This open letter is to be released ahead of the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC) by the World Economic Forum on behalf of the Alliance of CEO Climate Leaders.

Climate change is a major threat to our environment, societies and economy, endangering our well-being and prosperity. But a prosperous, inclusive and low-carbon world is possible.

As heads of global businesses, we have an urgent but simple message for world leaders, heads of government and the international community ahead of the UNFCCC COP24 in Katowice:

We are committed to climate action. We stand ready to fast-track solutions to help you deliver on an enhanced and more ambitious action plan to tackle climate change and meet the goals set out at the 2015 Paris Climate Agreement.

We know this is possible.

In 2015, our coalition the Alliance of CEO Climate Leaders – an informal group, facilitated by the World Economic Forum, of major global businesses from a range of sectors – called on governments to reach an ambitious climate deal, aligned with the UN Sustainable Development Goals.

When the Paris Agreement was reached, we confirmed our commitment to work together with the public sector and civil society to help deliver on its goals.

But global greenhouse gas emissions remain at historic highs**. The aim of limiting global warming to well below two degrees is clearly not on track. We need to do more, faster, and together.

To do this, we are:

a) continuing to reduce emissions using strategies that make the most sense for our businesses

These include initiatives such as setting a (science-based) target, putting an internal price on carbon, reducing energy use, switching to renewable forms of power, and working with partners to lower emissions across value chains. All of these efforts support the goals of the Paris Agreement.

b) supportive of the thoughts behind the Task Force on Climate-related Financial Disclosures, convened by the Financial Stability Board

We will advocate for improved analysis and reporting of climate-related financial risks.

c) calling on other businesses to jointly step-up climate action

d) investing in low-carbon initiatives and companies, and in innovations to reduce greenhouse gas emissions

These actions and incentives, facilitated by governments and backed by continued innovation in science and technology, will enable business to create jobs and economic value during the shift to a sustainable and socially responsible, low-carbon economy. This in turn will enable governments to set more ambitious climate targets.

The shift to low-carbon economies will be positive for communities and workers, future-proofing our businesses and economies while protecting the planet for future generations.

By working together, we can accelerate this transition and realize the future that humanity wants and needs.

The UN Secretary General’s Climate Summit in 2019 represents a clear milestone. We, the undersigned members of the Alliance of CEO Climate Leaders, are ready to help government leaders and policy-makers to develop and implement an enhanced, comprehensive, inclusive and ambitious action plan for 2020 and beyond.

A poll among the Alliance of CEO Climate Leaders in January 2017 showed that business leaders expect a carbon price of between $30-50 per tonne to have an impact on the transition to a low-carbon economy.